Capsule Achieves Team's Ambition And Becomes B Corp Certified
We’ve only gone and done it!
In the early days of planning what would go on to become Capsule Insurance, we knew we wanted to get B Corporation certified – and we’ve just pulled it off! Our company always had a wider mission behind it; a goal to support and work with like-minded, purpose-led and growing businesses. This achievement delivers on that.
We now join the B Corp family of over 700 businesses in the UK – and over 5,000 worldwide – who put the environment, community, customers and workforce at the heart of their operations. All proudly displaying the B Corp certificate icon as independent verification.
What this means to us
Well, obviously, it means a lot! But to those we engage with, it gives external and recognised certification of our values, ethics and how to behave as a business. We’re in this for the bigger picture.
Our Articles of Association are specifically modified to state that our purpose is to bring benefit to the wider stakeholder family. Our mission statement includes an environmental and social commitment. We have a verified Impact Business Model providing support to underserved and growing businesses. And finally, we’re dedicated to going above and beyond for both workers and customers.
This has been our target from day one – a real business with real purpose. The B Corp certification is an internationally recognised endorsement of a commitment to sustainability and the wider ESG framework. We are using these principles not only to make sure we, as a business, fulfil our own ESG objectives but also to help support our clients to achieve the best terms with our insurance partners. The B Corp certification is the pinnacle of ESG recognition and we are extremely proud to have achieved this.
Thomas Wynne, CEO
What is B Corp exactly?
B Corp was initially established in the US to create a family of businesses that balance profit with people as well as the planet. The growing awareness on the importance of sustainability – or its newer and slightly wider term ‘ESG’ – has seen a rapid growth in the number of businesses seeking to achieve the certification. This growth is driven by conscious customer pressures, regulation and ESG being more prevalent in day-to-day business life e.g. when obtaining funding or seeking equity investors.
Through its B Lab Impact Assessment tool, applicants complete a rigorous assessment with 150–200 questions (depending on the size of your business), and an evaluation process over many months. Answers are verified and audited by B Lab. This can take over 12 months, and requires noticeable commitment. All the more reason to praise our friends at Ecologi for their remarkably high score! As for us, we’d like to shout out our close friend – and B Leader – Ben Berger, for aiding us through the process. Thank you, Ben!
Those carrying the B Corp banner worldwide include Patagonia and Kickstarter. Closer to home, there are leading UK enterprises such as The Body Shop, Innocent Drinks, Abel & Cole, and more recently, Coutts Bank. Our very own clients Cheeky Panda and JUBEL Beer are both members of the B Corp family too!
Clearly, we are chuffed to bits. It’s been quite a challenge, and we have learnt so much – but the B Lab process is very supportive. I would encourage businesses – even if they do not want to go the whole hog on certification – to sign up to the B Lab process. It is such a useful tool to help guide and inform around ESG.
Dorian Zanker, Chief Sustainability Officer
How our approach to ESG helps our clients
Capsule supports high-growth, and purpose-led businesses to ensure they receive access to the insurance cover they need for their rapidly changing organisations – at a fair rate.
We’ve developed our own client ESG Index which allows us to assess the 'ESGness' of a business and present a fuller picture to insurers. Businesses showing good ESG credentials are lower risk, and this should be rewarded by insurers. We’ve successfully negotiated such premium reductions, and can also achieve wider cover on the back of our ESG Index.
Again, the team is over the moon. So if you’d like to find out a little more about how this result can help you, then reach out. We’ll be more than happy to walk you through it.